DT Cloud Acquisition Proposes Amendment to Monthly Extension Fee

DT Cloud Acquisition Corporation (NASDAQ:DYCQU) has recently proposed an amendment to the monthly extension fee payable by its Sponsor and/or its designee. The company filed a supplement to its Proxy Statement with the U.S. Securities and Exchange Commission on February 4, 2025.

In the original Proxy Statement dated January 27, 2025, the Company had outlined its intention to reduce the monthly extension fee payable by the Sponsor to extend the date by which the Company must consummate its initial business combination. This reduction was proposed to be an amount equal to the lesser of $60,000 for all outstanding Public Shares or $0.0087 for each outstanding Public Share.

However, on February 4, 2025, the board of directors of DT Cloud Acquisition Corporation suggested amending the proposed monthly fee. The new proposal entails setting the extension fee at $70,000 for all outstanding Public Shares, which was referred to as the “Amended Monthly Extension Fee.”

If approved at the upcoming Meeting scheduled for February 18, 2025, the Amended Monthly Extension Fee will become effective on February 23, 2025. It will be applicable on the 23rd of each succeeding month until the closing of an initial business combination or February 23, 2026.

To address this amendment, the company issued a Supplement to the Proxy Statement on February 4, 2025. The supplement, including the Amended Proposal No. 1, is crucial for shareholders to review alongside the Proxy Statement and all related annexes and exhibits. Shareholders are reminded to pay particular attention to the revised proposal when submitting their votes.

Shareholders who have previously submitted proxies using the original proxy card will need to resubmit their votes using the revised Amended Proxy Card to reflect their decisions accurately. The company emphasized the importance of using the updated proxy card to avoid invalid votes.

Advantage Proxy, Inc. has been enlisted to help solicit proxies, and shareholders with any voting inquiries can reach out to them for assistance.

As the Meeting approaches, the Company, its directors, and certain officials may be deemed participants in the solicitation of proxies. Additional information concerning these individuals’ roles and interests can be found in the Proxy Statement.

DT Cloud Acquisition Corporation is urging all shareholders to carefully consider the Supplement, Proxy Statement, and related documents in preparation for the forthcoming Meeting to ensure their voices are heard effectively.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read DT Cloud Acquisition’s 8K filing here.

About DT Cloud Acquisition

DT Cloud Acquisition Corporation does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more target businesses. The company was incorporated in 2022 and is based in London, the United Kingdom.